What does "whole life cash value growth" refer to?

"Whole life cash value growth" specifically refers to the gradual increase in cash value within a whole life insurance policy. Whole life insurance is structured to provide not just a death benefit but also a savings component, known as cash value. A portion of the premium payments contributes to this cash value, which accumulates over time at a guaranteed rate, allowing policyholders to build a financial asset while maintaining coverage.

This growth can typically be accessed by the policyholder during their lifetime through loans or withdrawals, providing financial flexibility. As the cash value increases, it serves as an important feature that distinguishes whole life insurance from term life insurance, which does not accumulate cash value. The other options do not accurately represent the concept of cash value growth in a whole life policy.